WEST NEW YORK, N.J. — Marcus & Millichap has arranged the $2 million sale of a net-leased GameStop location in West New York. Michael Lombardi, Alexander Pildes and Steven Schiavello of Marcus & Millichap represented the buyer and seller in the transaction, both private investors. Located at 6001 Bergenline Ave., the video game retailer GameStop has been at the property since 2002.
CHULA VISTA, CALIF. — NKF Capital Markets has arranged the $58.5 million sale of Broadway Plaza, a 356,335-square-foot shopping center in Chula Vista, located nine miles southeast of San Diego. The center was fully leased at the time of sale to tenants including Walmart, Costco, Panda Express, Verizon, Subway, Chase Bank, Petco and GameStop. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF represented the seller, Kimco Realty. The buyer, Protea Properties LLC, was self-represented in the transaction.
PLEASANT GROVE CITY, UTAH — Four Foods Group (FFG) has acquired five acres of land for the development of a new corporate headquarters in Pleasant Grove City. FFG plans to begin construction on the parcel by this fall. In addition to the new headquarters, the company will develop a restaurant cluster housing some of its fast-growing brands, including R&R Barbecue, which is slated to open in July. The restaurant development, operations, finance and management company currently owns or manages 158 restaurants employing more than 5,000 workers in 11 states, 1,500 of those in Utah. The FFG family includes local Utah chains: Kneaders Bakery & Café, Mo’Bettahs Hawaiian Style Food, Swig and R&R Barbecue. Out-of-state restaurants include 74 Little Caesars locations across the south, including Alabama, Louisiana, Mississippi and Florida.
HOWELL, N.J. — Marcus & Millichap has brokered the $3.1 million sale of a net-leased Texas Roadhouse restaurant located at 5309 US Highway 9 in Howell. Karly Iacono of Marcus & Millichap’s National Retail Group represented the seller, a developer, in the transaction. Marcus & Millichap also represented the buyer, a private client executing a 1031 exchange. The property is subject to a 15-year ground lease with Texas Roadhouse. Nearby retailers include Lowe’s, Target, LA Fitness, ShopRite and Hobby Lobby.
SPARKS, NEV. — NAI Alliance has brokered the sale of Marina Marketplace, a shopping center located in Sparks. An undisclosed buyer purchased the property for $4.4 million. Mark Keyzer negotiated the transaction. The 15,984-square-foot property is occupied by 11 tenants, including Peg’s Glorified Ham ‘N Eggs as the anchor. The name of the seller was not released.
DALLAS, ALLEN AND FRISCO, TEXAS — SHOP Cos. has brokered the sale of three retail properties totaling 48,736 square feet in the Dallas area. The sold properties include the 12,153-square-foot Stacy Plaza in Allen; the 5,083-square-foot Sprint & Castle Spa in Frisco; and a 3,500-square-foot, single-tenant property in Dallas. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the four different sellers in each transaction. All three buyers are based in Texas.
SHORT HILLS, N.J. — Stream Capital Partners has arranged the $12 million sale of a Walgreens property in Short Hills, located about 25 miles west of Manhattan. Phil DiGennaro, Jordan Shtulman and Jonathan Wolfe of Stream Capital represented the undisclosed seller in the transaction. The buyer was a private investor. The 14,963-square-foot property has 19 years remaining on the triple-net lease, which expires in 2036.
WALNUT, CALIF. — Faris Lee Investments has arranged the sale of Walnut Town & Country, a multi-tenant retail center located at 1205-1243 N. Grand Ave. in Walnut. A Northern California-based family trust acquired the property from an Oregon-based family trust for $10.7 million. Built in 1988, the 22,322-square-foot property is situated on 1.2 acres of land at the intersection of Amar Road and Grand Avenue. At the time of sale, the property was 95 percent occupied by a variety of tenants, including Jack in the Box, Subway, Wing Stop, Lollicup and Mathnasium. Shaun Riley of Faris Lee represented the seller and buyer in the deal.
BROWNS MILLS, N.J. — HFF has brokered the sale of a 7,000-square-foot retail building leased to Advance Auto Parts in Browns Mills, about 40 miles east of Philadelphia. The sales price was not disclosed. HFF represented the seller, a family trust, in the transaction. A private investor purchased the property. Advance Auto Parts has occupied the building since 2004 and has six years remaining on the lease.
ALTOONA, IOWA — Old Navy Outlet is set to open at the Outlets of Des Moines this fall. The men, women and kids clothing retailer will occupy 12,000 square feet. New England Development is the developer behind the 300,000-square-foot outlet center, which is located at 801 Bass Pro Drive near I-80. Current retailers at the property include LOFT Outlet, Nike Factory Store, Express Factory Outlet, Tommy Hilfiger and Under Armour.